NEW YORK, NY, Nov. 28, 2018 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Exxe Group (OTC PINK: AXXA), a diversified corporation focusing on investments in international real estate, financial services, AI, fintech and media sectors, is pleased to announce a control acquisition of a two-level Penthouse located in South Beach, Miami, Florida as part of Exxe Group’s ongoing expansion of portfolio of landmark properties.
The property in Miami, Florida is situated on two stories, approximately 1200 sq. feet with full length terraces. The top floor has a jacuzzi. The penthouse is a luxury condominium featuring spectacular ocean views and is located right in the heart of South Beach in the historic Art Deco district on Ocean Drive. Furnished with luxurious modern amenities the penthouse location is a three minute walk to the popular Lummus Park Beach and a seven minute walk to shopping at the Lincoln Road Mall. Many popular restaurants and clubs are nearby. This luxury property is also near the Wolfsonian Museum. Spa, pool, beachfront restaurant, fitness center, concierge and conference room are near or located on-site. This eco-responsible boutique hotel is currently managed by the Intercontinental Hotel Group. The luxury condo residences feature spectacular views of the surrounding skyline and ocean. A controlling interest in the penthouse was purchased by Exxe Group through a combination of cash, privately structured capital investments and an assumption of traditional bank loans.
The revenue stream from the penthouse rentals is projected to yield approximately $100,000 annually. The suit has a high rental occupancy rate because of its proximity to all sought after day and nightlife attractions of South Beach. Exxe Group intends to increase rental income through partnerships with luxury lifestyle groups which make up part of the existing Exxe Group Connected Spaces network. Additional streams of revenue will be generated from this flagship location by organizing trade shows and networking events under the Exxe Group umbrella of affiliated tech and media companies. Exxe Group’s extensive network of affiliated companies in fashion, film, media, music and digital tech will require representative event space. Deals structured with private investors and debt holders have flexible terms minimizing default risk and achieve for Exxe Group investors a stable, low risk investment. This location is planned as a main hub for South Florida and South America, and a starting point of Exxe’s South Florida and South America expansion and distribution.
Key Benefits of Exxe Group Real Estate Acquisitions:
- Control of high quality A-class US/Miami Beach property
- Luxury flagship properties with reliable income rental streams
- Minimizing cash outlays & credit risks/income producing/high value asset appreciation
- Value appreciation through tech and entertainment media platforms
The current acquisition of penthouse residences exemplifies our overall corporate strategy that operates at the cross section of Real Estate/Tech/Media/Entertainment sectors, positioned to maximize value generated through improved asset monetization. Our Media Content Event Platform enhances experience by providing a distinct user experience as a differentiator for our assets portfolio. In addition to digitization of intellectual property, our business model includes increasing the value of company real estate through special events for our network of companies that focus on entertainment, music, fashion, film and investor events. These innovative ways of treating and monetizing real estate assets with world renowned locations bring international exposure to investors who want to own and experience South Beach through the Exxe Group portfolio.
Edward Nazmiev PhD, CEO, said, “The Miami penthouse is an important successful next step in our company’s $100 million pipeline of Exxe Group. Acquisitions in Miami are the beginning of our entry in the popular South Florida market and luxury events for our media, technology and entertainment industry relationship. A strong balance sheet with reliable assets, multiple revenue streams, a great mix between traditional real estate assets and monetization by way of disruptive digital technology positions Exxe Group to be in the forefront of the newly emerged digital economy. The company’s asset portfolio includes not only solid real estate investments but also a synergistic combination of investments in fashion, film and entertainment media which ultimately derives unique and powerful value for our investors.”
About Exxe Group: Exxe group is a diversified corporation focusing on acquisitions in the following sectors: real estate, technology, media, and financial services. Exxe Group is an acquisition-driven company. The company strategy is to acquire controlling equity interests in undervalued companies and then take an active role in improving their performance - accelerating their growth by providing them with both access to capital and to management expertise. For additional information go to www.exxegroup.com
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